A bachelor’s degree in marketing and special knowledge or experience in a specific niche or market segment are usually required to become a market strategist. Typically, market strategists work in the consumer goods or financial investment industries. To become a consumer goods market strategist, you must gain knowledge of a specific group of people’s buying habits, whereas investment strategists must gain knowledge of specific markets or industries.
The first step toward a career in market strategy is to earn a bachelor’s degree in marketing. In some cases, pursuing an advanced degree in your marketing specialty can help you hone your skills and establish yourself as an expert. A market strategist can work as an internal employee or as an independent consultant who provides specialized assistance as needed. Consultants are more likely than those who work for a single company to require advanced educational credentials to advance their careers as strategists. A staff member has the advantage of persuading an employer of the value of his professional opinion through daily work, whereas a consultant must frequently rely on his objective credentials to persuade a client to pay for his expertise.
You can become a market strategist by specializing in a specific group, market, or industry once you have the necessary educational background. Developing a specialty is a process that differs from person to person. In general, you should have some focused experience with the specialty in question. A person who wants to specialize in marketing to a specific ethnic group, for example, might be a member of that ethnic group and have unique insight into how they operate.
Another example is someone who has previously worked in the industry that he is now pursuing. A market strategist is a politician who leaves government service to lobby for a non-related industry, such as banking. He’s usually hired because he’s thought to be an expert in a market that the industry needs to tap into.
You can also improve your knowledge of a specialty area by studying it and offering expert analysis through commentary, teaching, and writing. You can more easily transition into the market strategist title once you are recognized by outside sources as a person who can provide special insight into a consumer group, market, or industry. This path is especially beneficial if you want to work in the financial services industry as a market strategist. In an investment context, a strategist must persuade each investor that he has conducted the necessary research and analysis to support his trading recommendations, which is easier to do with some level of public recognition as an industry expert.